Q1’21 Unilever Nigeria records 46% growth in turnover to N19.4bn

By Peter Egwuatu

Unilever Nigeria Plc has recorded turnover of N19.4 billion in its unaudited interim report for the quarter ended 31st March 2021, (Q1’21) , representing a growth of 46 per cent from N13.3 billion recorded in the corresponding quarter of 2020, Q1’20.

In the results released to the Nigerian Exchange Group, NXG, the Company recorded a gross profit of N4.5billion for the Q1’21 which is 31 per cent up from N3.4billion reported for same corresponding period in 2020.

Overall, Unilever recorded loss after tax of N.5 billion for the quarter under review compared to profit after tax of N1.1billion reported for the corresponding period in 2020.

READ ALSO:FG transforming agric sector to scale up productivity — Osinbajo

Speaking on the results, the Corporate Affairs and Sustainable Business Director, ‘Soromidayo George said that improved performance shows the determination and commitment of Unilever to continue to implement strategies that would enable it deliver value to its customers and shareholders.

“Unilever Nigeria remains focused on its strategy to deliver sustainable growth both in the medium and long-term. Amidst the prevailing operational challenges of the environment, Unilever Nigeria will continue to focus on its vision of making sustainable living commonplace by serving Nigerian consumers with the right products that improve their health and wellbeing,” Mrs. George said.

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